We augment efficiency-based theories of ownership by including influence costs. Our principal conclusion is that the prospect of organizational decline and layoffs creates additional influence costs in multi-unit organizations that would be absent if there were no prospect of layoffs and would...

The LeChatelier principle, in the form introduced into economics by Paul A. Samuelson, asserts that, at a point of long-run equilibrium, the derivative of long-run compensated demand with respect to own price is larger in magnitude than the derivative of short-run compensated demand. The authors...

Intro -- Table of Contents -- Preface -- 1. Introduction -- 2. (Near-)Substitutes, Prices, and Stability -- 3. Vickrey Auctions and Substitution -- 4. Deferred-Acceptance Auctions and Near-Substitutes -- 5. Conclusion -- Notes -- References -- Index